Exchange only for senior citizens on 19th Nov Saturday in Banks
Exchange only for senior citizens
on 19th Nov Saturday in Banks
New Delhi: In the latest, government has
suspended exchange for Rs 500 and Rs 1,000 notes on Saturday, 18th
November 2016. Only senior citizens will be allowed to make one-time exchange
for upto Rs.2,000.
Banks will not exchange decommissioned notes for non-bank
customers tomorrow and senior citizens are exempted informed Indian Bank
Association today. Banks will
remain shut on Sunday. The lending institutions will make use of Saturday
to clear off the pending work.
IBA Chairman Rajeev Rishi stated that ever since demonetisation
was announced, all banks have been working for extended hours including
holidays to ensure the public at large was not inconvenienced. "In fact,
we have diverted all human resource to make sure that all those who stood in
queues got their money exchanged, deposited and withdrawn. In the process what
we have felt is that in the last one week our own customers have actually
suffered. Routine works are not done and routine works are pending in banking
activities," he said.
However, senior citizens are exempted from the directive and
banks will be accepting all their requests."We have taken a view that on
Saturday, the banks shall not be doing exchange over the counter of 2000
rupees. We will make an exception for senior citizens. But tomorrow we will
spend trying to update our works and do the works in relation to our own
customers," Rishi added.
The IBA decision is only for Saturday and from Monday onwards
all customers will be allowed to exchange notes at a branch of any bank.Rishi
said after the banks started using indelible ink to mark fingers of customers
who have exchanged notes, the queues decreased.
"For the last one week, we have been seeing huge rush but
for the last two-three days after we introduced the inking of finger we have
seen a visible reduction in the rush at branches. The queues have
shortened," Rishi said.
Prime Minister Narendra Modi had on November 8 surprised
citizens by announcing demonetisation of 500 and 1000 rupee notes and
since then large number of seemingly unending queues before banks and post
offices are seen in order to exchange these currencies.